NGX gains as equities rally across sectors

NGX gains as equities rally across sectorsTrading on the Nigerian Exchange Limited closed on a positive note on Thursday, as the benchmark All-Share Index recorded a modest gain of 33.48 points to settle at 247,707.13 points compared to the 247,673.65 points recorded on Wednesday. The market capitalisation of listed equities similarly appreciated, closing higher at N160.83tn from N160.81tn recorded in the previous trading session.

Across the broader trading landscape, activity levels reflected robust investor engagement as total equity volume crossed hundreds of millions across major sectors, anchored by strong performances in key counters.

Sectoral performance was largely upbeat, spearheaded by significant rallies in specialised market indicators. The NGX Oil and Gas Index led the sectoral advances with a notable surge to close at 6,194.16 points, up from 6,034.68 points, driven by strong buying interest in energy and exploration equities. The NGX Lotus Islamic Index also advanced firmly to 23,164.84 points, while the NGX Growth Index scaled higher to 26,970.58 points.

Additional positive momentum was observed in the NGX Main-Board Index, which climbed to 10,820.66 points, and the NGX Banking Index, which ticked upward to settle at 2,556.46 points. Conversely, a few indices experienced downward pressure, including the NGX Premium Index, which retreated to 30,909.21 points, and the NGX Consumer Goods Index, which closed relatively flat at 4,033.67 points.

Individual stock performances highlighted active trading across premier and main board securities. In the banking subsector, United Bank for Africa Plc recorded positive price movement, closing at N43.15 with a 0.35 per cent gain on heavy volume of over 36.3 million shares traded, while Zenith Bank Plc traded actively with over 12.3 million shares changing hands at N127.70. Access Holdings Plc saw moderate activity, closing at N28.30, whereas First Holdco Plc appreciated 0.84 per cent to close at N138.00.

Dangote Cement Plc maintained a steady market presence at N1,066.70, and Seplat Energy Plc anchored the oil and gas exploration category with robust trades at N16,000.10. Meanwhile, Aradel Holdings Plc recorded a strong 7.14 per cent appreciation to close at N1,499.90, reflecting sustained investor appetite for integrated energy services.

Tinubu’s NNPC order cuts deductions to N8.4tn – W’Bank

Bola TinubuThe deductions from Nigeria’s Federation Account fell by N1.7tn in the first half of 2026, following the Federal Government’s move to stop certain oil revenue retentions by the Nigerian National Petroleum Company Limited and redirect gas-flaring penalties to the Federation Account.

The World Bank disclosed this in its Nigeria Development Update report analysed by our correspondent on Thursday, noting that total deductions declined from N10.1tn in the first half of 2025 to N8.4tn in the corresponding period of 2026.

The reduction represented a fall of N1.7tn, or 16.8 per cent, year-on-year. As a share of the nation’s Gross Domestic Product, deductions dropped from 4.6 per cent to 3.4 per cent, a decline of 1.2 percentage points.

The World Bank attributed the development partly to Executive Order 9 of 2026, signed by President Bola Tinubu on February 13, which ended the Nigerian National Petroleum Company Limited’s 30 per cent management-fee and Frontier Exploration Fund deductions from profit oil and profit gas under specified petroleum contracts.

The order also redirected proceeds from gas-flaring penalties to the Federation Account, rather than the Midstream and Downstream Gas Infrastructure Fund. The measures were designed to increase the revenue available for distribution among the Federal Government, states and local governments.n deductions helped increase distributed Federation Account revenues from N7.6tn in the first half of 2025 to N10.5tn in the first half of 2026.

That represented an increase of N2.9tn, or 38.2 per cent, over the period.

In its assessment of Nigeria’s fiscal performance, the bank stated, “Total deductions fell from 4.6 per cent of GDP (N10.1tn) in H1 2025 to 3.4 per cent (N8.4tn) in H1 2026, partly supported by the February 2026 Executive Order eliminating Nigerian National Petroleum Company Limited management-fee and Frontier Exploration Fund deductions and redirecting gas-flare penalties to the Federation Account, alongside a sharp reduction in refunds to subnational governments.”

It added, “As deductions fell significantly, distributed revenues rose from 3.5 per cent of GDP (N7.6tn) to 4.2 per cent (N10.5tn).”

The development comes as state and local governments face mounting pressure to finance infrastructure, education, healthcare, security and other public services amid elevated borrowing costs and persistent expenditure demands.

Executive Order 9 was introduced due to concerns over the amount of petroleum revenue retained or channelled into funds before reaching the Federation Account.

Under the Petroleum Industry Act 2021, NNPCL was entitled to a 30 per cent management fee on profit oil and profit gas from specified production-sharing, profit-sharing and risk-service contracts. The framework also provided for a 30 per cent allocation of profit oil and profit gas to the Frontier Exploration Fund.

In addition, gas-flaring penalties were paid into the Midstream and Downstream Gas Infrastructure Fund to support gas infrastructure development.

The Tinubu administration argued that the arrangements reduced the revenue available to the Federation and created overlapping funding mechanisms. The executive order consequently directed that the specified petroleum revenues be remitted to the Federation Account, while gas-flaring penalties would no longer flow into the gas infrastructure fund.

The order also directed relevant petroleum contractors to make specified payments, including royalties, tax oil and profit oil, directly into the Federation Account.

The reform seeks to increase transparency in petroleum revenue collection and improve the funds available for distribution to the three tiers of government. Its implementation, however, also raises questions about how affected agencies and funds will finance their statutory responsibilities under the revised arrangements.

Despite the reduction in deductions, the World Bank reported that gross Federation Account revenues increased only modestly as a share of the economy.

Gross revenues rose from N17.7tn in the first half of 2025 to N18.9tn in the first half of 2026, an increase of N1.2tn, or about 6.8 per cent. However, the revenue-to-GDP ratio fell from 8.0 per cent to 7.6 per cent.

2027: Lagos APC, ADC, NDC, others trade confidence as guber race gathers momentum

2027: Lagos APC, ADC, NDC, others trade confidence as guber race gathers momentumWith the 2027 general election gradually gathering momentum, the ruling All Progressives Congress, APC, in Lagos State has moved into a new phase of its preparations, formally activating its campaign machinery and charging members to begin the mobilisation that will precede the election.

The Lagos APC recently inaugurated its campaign council, with Governor Babajide Sanwo-Olu as chairman and the Deputy Governor and governorship candidate, Obafemi Hamzat as deputy chairman.

Former Senator Musiliu Obanikoro was named director-general, while the structure also brings together several prominent figures, including former governors Babatunde Fashola and Akinwunmi Ambode.

The campaign structure includes directorates covering areas such as party and inter-party affairs, logistics, traditional institutions, residents’ associations and grassroots coordination. The party said its machinery would be deployed across the state’s senatorial districts, local government areas, wards and polling units.

Beyond the formal structure, however, the ruling party’s confidence is becoming increasingly evident, as APC leaders challenge opposition parties to demonstrate that they have the organisational capacity required to mount a serious statewide campaign.

An APC chieftain, Mr Olamilekan Babalola, who spoke with DAILY POST in Ikeja, said the activities of opposition parties so far had not convinced him that they were ready for the battle ahead.

He argued that political campaigns could not be won merely through media appearances or social media activity.

“Where are the opposition parties? What are they preparing? We have started our mobilisation, and our structures are already working. You cannot win Lagos by making noise on social media,” Babalola said.

According to him, the APC’s advantage lies in its established structures across the state, which he said would be activated as the election draws closer.

The chieftain also dismissed suggestions that the emergence of several opposition candidates could significantly alter the political equation in Lagos, insisting that the ruling party was focused on its own mobilisation rather than the activities of its rivals.

“Let them continue with whatever they are doing. Elections are not won on social media. What matters is what you have on the ground, from the local government to the ward and polling-unit levels. That is where the APC is preparing,” he said.

Babalola further expressed confidence that opposition parties would struggle to dislodge the ruling party, pointing to what he described as the APC’s long-standing political structure in Lagos.

The APC chieftain went further, suggesting that the ruling party’s level of preparation was already putting it ahead of its opponents.

He said the APC would approach the election with the expectation of securing a decisive victory, adding that the party’s confidence was based not merely on public rallies but also on its ability to mobilise voters at the grassroots.

Asked whether he believed any opposition party currently posed a serious threat to the APC’s hold on Lagos, he said, “As of today, I don’t see any opposition party that has demonstrated that capacity. They can make their plans, but the APC has been preparing.”

He was also asked how confident he was that the APC would retain Lagos and whether the party expected the result to become clear early on election day.

The chieftain responded confidently that the APC expected to establish a commanding position early in the process, saying the party’s preparations would speak for themselves when Lagosians eventually went to the polls.

The confidence echoes the position publicly expressed by Governor Sanwo-Olu, who recently challenged opposition parties preparing for the 2027 election to present alternative policies capable of competing with what the APC says it has achieved in Lagos and at the federal level.

Sanwo-Olu argued that voters should not support a change of government simply for the sake of change, saying opposition parties needed to demonstrate why their alternatives were preferable to the APC’s record.

ADC banks on grassroots mobilisation, vows to challenge APC

While the ruling APC has moved to strengthen its campaign machinery ahead of the 2027 Lagos governorship election, the African Democratic Congress, ADC, says it is equally focused on building the structures required to take its message to voters across the state.

The ADC has presented Gbadebo Rhodes-Vivour as its Lagos governorship candidate, with Gbadamosi Babatunde Olalere as his running mate. The party unveiled its governorship and deputy governorship candidates in 28 states in September as it stepped up preparations for the 2027 elections.

Rhodes-Vivour is returning to the Lagos governorship contest after participating in the 2023 election on the platform of the Labour Party (LP).

His current campaign has begun to focus on issues including flooding, housing and traffic, while he has also sought to address some of the issues that featured prominently during his 2023 candidacy.

Speaking recently on Arise TV, Rhodes-Vivour said he had learnt Yoruba and would use the language during his campaign, describing language and culture as important to his engagement with Lagos residents.

The ADC candidate has also recently questioned the eligibility of APC governorship candidate Obafemi Hamzat, reviving an issue surrounding alleged United States allegiance that featured during the 2023 election litigation. Rhodes-Vivour has argued that the matter deserves attention ahead of the 2027 contest.

Beyond the public exchanges, however, the ADC says its preparations are not limited to media appearances, insisting that its campaign is focused on taking its message to communities and building support ahead of the election.

An ADC chieftain, Michael Olusola, also known as Mr Ola, who spoke with DAILY POST, said the party was not intimidated by the APC’s recently unveiled campaign council, arguing that the size of a campaign structure alone would not determine how Lagos residents would vote.

“APC can unveil as many people as it wants in its campaign council. What matters is the people. The election will be decided by Lagosians, not by the number of names in a campaign council,” Olusola said.

He said the ADC was studying the lessons of the 2023 election and working to address areas where the opposition had fallen short.

“We have learnt from 2023. We know what happened, we know the mistakes that were made, and we know what we need to do differently. This time, we are going to the people, and we are building our structures from the grassroots,” he said.

The party official also rejected suggestions from APC quarters that opposition parties were relying excessively on social media and publicity.

“An election is not won on social media, and we know that. That is why we are not depending on social media.

“We are speaking with people, engaging communities and building the organisation that will take the campaign to every part of Lagos,” he said.

Asked whether the ADC was confident of defeating the APC, the chieftain said the party was approaching the election with the belief that a change was possible.

“We are confident. If we did not believe we could win, there would be no reason to contest. APC has been in government for a long time, but that does not mean Lagos belongs permanently to one political party,” he said.

He also dismissed the argument that the APC’s established structure automatically gave it an advantage that the opposition could not overcome.

“Structures are important, but structures do not vote. People vote. What we are doing is to convince Lagos residents that there is another option and that they have the power to decide what happens in 2027,” he said.

For Rhodes-Vivour, the challenge also involves convincing voters that his second attempt at the governorship is different from his 2023 campaign.

His recent emphasis on language and issues affecting residents appears aimed at broadening his engagement with Lagos voters. He has said his concerns extend beyond ethnic and linguistic considerations, pointing to flooding, housing, traffic and what he described as a loss of dignity among residents.

For now, the party insists that the relative visibility of the APC’s campaign machinery should not be mistaken for an absence of opposition activity.

“Let APC say whatever it wants to say. We are not running an election based on who makes the most noise today. We are preparing for the day Lagosians will vote,” the ADC chieftain added.

Quiet campaign does not mean we are not working — NDC

While the ADC has maintained a relatively visible campaign presence ahead of the 2027 Lagos governorship election, the Nigeria Democratic Congress, NDC, says it is taking a different approach, insisting that political activity should not be measured by the volume of appearances on social media.

Speaking with DAILY POST in Ikeja, an NDC chieftain said the party was concentrating on grassroots mobilisation and building its structures ahead of the election rather than engaging in what he described as excessive online publicity.

“Because you don’t see us making noise every day on social media does not mean we are not working. We are building our structures and engaging people on the ground. The election will not be decided by social media,” the party chieftain said.

The party official said the NDC was aware of the strength of the APC’s political structure in Lagos but insisted that the ruling party should not mistake its current visibility for a guaranteed electoral victory.

He also dismissed suggestions that opposition parties that appeared less active in the media were not preparing for the election.

“Those who are making noise online should continue. At the end of the day, it is the votes that will determine the result. We are focused on the people and what happens at the grassroots,” he said.

The NDC governorship candidate, Funso Doherty, has also publicly expressed confidence in his chances, saying he believes he will become Lagos governor in 2027.

PDP, APM insist opposition mobilisation goes beyond social media

For the Peoples Democratic Party, PDP, and the Allied Peoples Movement, APM, the battle for Lagos in 2027 will also be determined by what happens away from the cameras, with both parties insisting that their preparations are focused on building support among voters across the state.

In an interview with DAILY POST, a PDP stakeholder identified as Ayomide Emmanuel said the party was relying on its established grassroots network and was not worried about the online visibility of other political parties.

“We are working. The fact that you don’t see PDP making noise every day does not mean that our structures are sleeping.

“​We have people at the grassroots, and we are engaging them. When the election comes, Lagosians will decide,” Emmanuel said.

The PDP governorship candidate, Adedeji Doherty, has also said the party is prepared to challenge the APC. The campaign has established different volunteer and mobilisation channels, including ward mobilisation and door-to-door canvassing.

The APM, meanwhile, has adopted a more visible mobilisation strategy, with its Lagos governorship campaign organisation recently commencing electioneering activities under the “Atunto Eko 1.0” agenda.

The campaign has said it will take its message across the state’s local government areas and wards, while APM leaders have also held meetings involving party officials, National Assembly candidates and chairmen from the 20 local government areas and 37 Local Council Development Areas (LCDAs).

A party insider, who did not want his name published, said the party was building its campaign from the grassroots and would not be intimidated by the APC’s established political structure.

“We know APC has been in Lagos for a long time, but that does not mean that other parties cannot win. We are organising our people and taking our message to Lagosians. Our focus is on the grassroots,” the source said.

Adeoye has anchored the APM campaign on the Atunto Eko agenda, which includes proposals on jobs, healthcare, education, infrastructure, housing and security.

2027: INEC planning to use AI to rig elections – NDC

2027: INEC planning to use AI to rig elections – NDCThe Nigeria Democratic Congress, NDC, has accused the Independent National Electoral Commission, INEC, of plotting to rig the 2027 general elections using Artificial Intelligence, AI.

NDC National Publicity Secretary, Osa Director, said INEC plans to rig the election in favour of the All Progressives Congress, APC.

Recall that the National Chairman of INEC, Joash Amupitan, while speaking a recent world press conference, had disclosed the commission’s plan to use AI in the 2027 general elections.

However, Director wondered how INEC can effectively use AI to resolving electoral issues when the government can’t use the tool to tackle insecurity.

In a statement on X, the NDC spokesman said: “INEC is plotting to rig the 2027 general elections in favour of the ruinous APC by deploying Artificial Intelligence, AI.

“Suddenly, AI has become an attractive tool for the election management body.

“Not even a test run of the efficiency, or otherwise, of AI tools in off-cycle elections? Why did INEC not test-run AI in the Osun polls?”

“Why the hurry to use AI in the forthcoming general elections, just less than 100 days away? Something is amiss,” he added.

OPay named Digital Bank and Financial Inclusion Leader at BAFI 2026

OPay named Digital Bank and Financial Inclusion Leader at BAFI 2026OPay, a leading digital bank in Nigeria, has won two prestigious awards at the 14th BusinessDay Banks and Other Financial Institutions (BAFI) Awards 2026, taking home the titles of Digital Bank of the Year and Financial Inclusion Leader of the Year.

The awards ceremony, held on 9 October 2026 at the Civic Centre, Lagos, recognised OPay’s impact in advancing digital financial services and expanding access to formal financial services for Nigerians.

The dual recognition reflects OPay’s commitment to delivering accessible, reliable, secure and convenient financial services through technology. With tens of millions of users and over a million merchants and businesses supported, OPay continues to play a significant role in Nigeria’s digital financial ecosystem.

Beyond its digital reach, OPay provides a range of financial services through mobile, USSD, cards, wallets and agency banking channels. This multi-channel approach helps address barriers to financial access, particularly for underserved communities, while supporting individuals, small businesses and merchants with everyday financial transactions.

Commenting on the awards, the Chief Operating Officer and Chief Technology Officer of OPay, Dotun Adekunle, said: “I commend BusinessDay for its longstanding commitment to recognising excellence in Nigeria’s financial services sector. These awards reaffirm our focus on delivering reliable and secure services that create real value for Nigerians. Our services are Okay, our people are Okay, and OPay is Okay.”

The recognition builds on OPay’s efforts to advance financial inclusion through technology. Its nationwide network of merchants and agents helps connect more people and businesses to digital financial services, supporting greater participation in the formal financial system.

As OPay continues to strengthen its services, the company remains focused on putting customers first, building trust and delivering innovative solutions that make everyday financial activities simpler and more accessible.

Lagos govt sets date to demolish distressed 25-storey GNI House

 Lagos govt sets date to demolish distressed 25-storey GNI HouseLagos State Government has announced plans to begin the controlled demolition of the distressed Great Nigeria Insurance House on Lagos Island on Thursday, October 15, 2026, to prevent potential threats to lives and property.

The Permanent Secretary of the Lagos State Emergency Management Agency, LASEMA, Dr Olufemi Damilola Oke-Osanyintolu, said the decision followed structural assessments by relevant agencies, which established that the building posed a significant danger to public safety.

He explained that the demolition would be conducted under controlled conditions and in accordance with global best practices to minimise risks and protect lives and property.

According to him, the immediate vicinity of the building would be cordoned off throughout the operation, with access restricted to prevent members of the public from entering the danger zone.

Oke-Osanyintolu added that temporary traffic diversions would be implemented on adjoining roads to enable the demolition team to work safely and protect motorists and other road users.

He warned that the exercise could produce noise and dust, urging residents, traders and business owners in the area to remain patient and cooperate with emergency responders and traffic management officials.

The LASEMA permanent secretary advised motorists and other members of the public to stay away from the affected area where possible, take alternative routes and obey safety instructions and diversion signs.

He said LASEMA would work with other relevant state agencies to coordinate safety measures and ensure the operation was carried out smoothly without endangering the public.

Oke-Osanyintolu appealed to residents and business operators in the neighbourhood to cooperate with the authorities, emphasising that the intervention was necessary to address the risks posed by the structurally distressed building.

He thanked Lagos residents for their understanding and cooperation, reaffirming the agency’s commitment to working with relevant stakeholders to improve public safety across the state.

Igbokoda aircraft crash: NAF responds to residents’ fears over offensive odour

Igbokoda aircraft crash: NAF responds to residents’ fears over offensive odourThe Nigerian Air Force, NAF, has assured residents of Igbokoda, Ondo State, that it will engage relevant environmental and public health authorities to address concerns over an offensive odour and the possible environmental impact of an aircraft accident in the area.

The NAF said it was aware of the concerns expressed by residents, adding that it recognised the discomfort, anxiety and uncertainty caused by the incident.

In a statement issued on Thursday, the Director of Public Relations and Information, Headquarters NAF, Air Commodore Ehimen Ejodame, said the concerns of the affected community were being taken seriously.

He explained that search and recovery operations were still ongoing, with the Air Force working alongside relevant partner agencies to ensure the safe and orderly recovery of the wreckage.

According to him, the NAF would engage appropriate environmental and public health authorities after the recovery operation to assess the situation and coordinate necessary measures to address any environmental concerns identified.

The Air Force also reaffirmed its commitment to the well-being of residents and to constructive engagement with relevant stakeholders to safeguard public health, safety and the environment.

Taraba CP seeks stronger collaboration to tackle insecurity

Taraba CP seeks stronger collaboration to tackle insecurityThe Taraba State Commissioner of Police, Edwin Ogbegaghagha, has called for sustained dialogue, timely information sharing and collective responsibility among security agencies, civil society organisations and other stakeholders to address insecurity and promote peaceful coexistence in the state.

Ogbegaghagha made the call on Wednesday in Jalingo during a security engagement with civil society organisations and other stakeholders at the state police command headquarters.

He said collaboration between the police and members of the public was essential to preventing crime, strengthening security responses and maintaining peace across Taraba State.

The commissioner assured participants that concerns raised during the meeting had been noted and would receive the necessary attention within the operational capacity of the command.

He urged civil society organisations and members of the public to support the police with credible and timely information to help identify security threats and prevent criminal activities.

According to him, the engagement formed part of a series of consultations planned by the command to strengthen public trust, address security challenges at the grassroots and develop sustainable strategies for restoring and maintaining peace across the state.

He explained that the initiative was in line with the directive of the Inspector-General of Police, Olatunji Rilwan Disu, to strengthen community partnerships and improve security nationwide.

The meeting, Daily Post observed, provided an opportunity for participants to express their fears, concerns and challenges regarding the security situation in their respective communities and places of business.

During the engagement, stakeholders highlighted security challenges affecting their communities, while discussions focused on possible solutions and practical measures to address the concerns raised.

Ogbegaghagha reiterated the command’s commitment to working with relevant stakeholders to tackle security challenges, stressing that effective collaboration and timely communication were necessary to improve public safety.

He encouraged participants to sustain their engagement with the police and promptly report suspicious activities, noting that community participation remained crucial to crime prevention and efforts to ensure lasting peace in Taraba State.

NEM Insurance renovates Ilupeju school, highlights insurance benefits

NEM Insurance renovates Ilupeju school, highlights insurance benefitsNEM Insurance Plc has renovated Ilupeju Primary School in Lagos and donated notebooks to its pupils as part of efforts to support education and contribute to the development of the community.

During the unveiling of the renovated school consisting of four buildings on Thursday, the Group Chairman of NEM Insurance, Mr Tope Smart, described the initiative as part of the company’s commitment to adding value to society.

Smart said the project followed an assessment of the condition of the school buildings, after which the company held discussions with the school board and obtained the necessary approvals to commence the renovation.

He said the improved facilities would provide pupils with a better learning environment and could encourage more parents to enroll their children in the school.

According to Smart, NEM Insurance is guided by the values of integrity, discipline, clarity and excellence, adding that the company wanted to promote excellence through the school project.

He noted NEM Insurance as one of Nigeria’s oldest insurance companies and the country’s largest non-life insurer, noting that the company was also expanding beyond Nigeria.

Smart said the company’s objective extended beyond its business operations to adding value to individuals and society. He explained that insurance provides financial protection by restoring policyholders to their previous position when unexpected losses occur.

“Once you do your insurance, you can go and sleep,” he said, urging Nigerians to take advantage of insurance for greater peace of mind.

He also encouraged the pupils to consider insurance as a career, describing the profession as an avenue to contribute to society.

Smart disclosed that NEM Insurance had paid more than N37bn in claims in 2026, saying the payments were aimed at restoring policyholders to their position before the occurrence of losses.

The Education Secretary, Mushin Local Government Education Authority, Aremo Olokodana, commended NEM Insurance for the intervention, describing it as a strong example of corporate support for host communities.

Olokodana said many businesses benefit from society without making significant efforts to give back, adding that NEM Insurance’s decision to renovate the school was commendable.

He expressed the education authority’s willingness to strengthen its relationship with the company and urged NEM Insurance to consider other areas of collaboration.

He also appealed to the insurer to continue supporting public schools and communities.

Equities rebound as market capitalisation hits N160.8tn

NGXTrading activities on the Nigerian Exchange closed on a positive note on Wednesday, as the market capitalisation recorded an upward movement to close at N160.812tn compared to N160.708tn recorded on the previous trading day.

The market All-Share Index similarly appreciated to settle at 247,673.65 basis points from 247,513.63 basis points, reflecting a broad-based recovery across key sectoral indices. Market activity spanned multiple asset classes including equities, exchange-traded products, bonds, and mutual funds, recording a total equities volume turnover of 314,899,895 shares valued across 30,922 deals.

Tier-one banking equities maintained robust liquidity and investor interest. United Bank for Africa Plc traded actively with 11,743,883 shares exchanging hands across 957 deals, closing at a price of N43.00 per share and a market capitalisation of N1,900,435.54m.

Zenith Bank Plc recorded significant turnover with 17,771,602 shares traded across 2,349 deals, closing at N127.80 per share. Access Holdings Plc recorded heavy activity in the other financial institutions category, pulling a volume of 99,365,975 shares across 1,652 deals to close at N28.40 per share

Guaranty Trust Holding Company Plc also witnessed strong participation, recording 12,169,864 shares traded in 2,082 deals to close at N128.00 per share.

The consumer goods and industrial goods sectors posted notable market performances characterised by high-priced bellwether listings. Dangote Cement Plc closed at N1,066.70 per share with a market capitalisation of N17,999,025.65m, while BUA Cement Plc closed at N297.00 per share.

Telecommunications giant MTN Nigeria Communications Plc maintained a solid market valuation of N17,720m, closing at a price of N844.00 per share with 1,170,077 shares traded across 2,198 deals. Airtel Africa Plc traded at a prime price point of N6,300.00 per share, contributing to the telecommunications services volume on the main board.